Burnout: Households Shut Their Wallets As Living Costs Rise!

Trying to get a handle on what is going on in the economy is not easy, as I discussed recently in my show about retail turnover, which when adjusted for inflation is falling, and falling hard. So no great surprise to see that the latest data from the ABS on Household spending growth showed it has slowed, up 0.1% over the year. The 0.1 per cent rise in May follows a 2.2 per cent increase in the 12 months to April. Through the year household spending increased for four spending categories. The largest increases were in: health (+8.8%), miscellaneous goods […]